Shane Coote was just 21 when he started in real estate, and 26 when he became an agency owner. Now the director of Ray White Mairangi Bay, he reveals how a course suggested by his dad led him down the path to success.
Q: What did you do before real estate?
After leaving school, I went to Australia for a year and did stuff like washing dishes. When I came back to Auckland, I thought I’d do a year’s work before going to uni. A mate was looking after people with special needs, and I thought I would try that while I decided what I wanted to study.
I ended up being a live-in caregiver for guys in their late teens and early 20s who had intellectual disabilities. They had behavioural and anger issues, so some of the shifts were pretty hairy, but I was good at building rapport with them.
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I did a good job, but I’d see other people who were earning more, and it felt like I wasn’t being paid what I was worth. That led me to look for something where the pay was more performance-related. My dad, who’s a bit entrepreneurial, took me on a week-long course, Brad Sugars’ Billionaire In Training, and that was a turning point for me. Property was something they talked about, and I thought, I’ll get my real estate licence and look at the industry from the inside. You could get your licence in two weeks in those days, so I did that and got into real estate when I was 21.
Q: Was being young a hindrance?
Not really. I was lucky to have a great mentor, Roger Simpson-Marvin, and being part of a team with him gave me instant credibility. I don’t think age matters when you’ve got knowledge and passion, but having the association with someone who was older than me and really experienced did help at the start.
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About a year after I started, we became business partners, and four or five years after that, we bought the business from the previous owner and ran it together until, unfortunately, he passed away about five years ago.
Q: Can you remember your first sale?
When I was trying to get my first listing, I asked all of my mates, “Who do you know that might want to sell a house?” I ended up getting the listing for a house owned by the parents of a mate from rugby. It was a townhouse in Albany, and for the first open home, I covered the street in open home signs. You couldn’t see a blade of grass for the Shane Coote Open Home signs everywhere. I got told off by the council, but I sold the house.
It took six months to get that first sale. I spent that time building foundations and getting to know the business. I was told real estate sales isn’t a sprint, it’s a marathon. After selling nothing for six months, I sold three houses in a week, and after that, I was off. I thought, Okay, sweet. This is the right thing for me. I’m on my way.
Q: Did having confidence make a difference?
I’ve always had a belief that this job was right for me, and I would be successful at it. I thought I had the right skill set; I’m a people person, and I think if you’re good at dealing with people and you can get the most out of a situation, you’ll do better in real estate than people who don’t have that.
Coote: "I love sponsoring clubs like the East Coast Bays Rugby Club. I’ve played rugby most of my life, but my joints ache too much to play now." Photo / Fiona Goodall
I always tell my team you have to have faith that the deal is going to get done. A lot of the time, the only difference between someone who is number one in the country and someone who is number 10,000 is belief. The number one person wakes up in the morning knowing they are going to smash it, and the other one has no idea where they’re going to get their next sale. You’ve got to believe.
Q: You became a business owner after just five years in real estate. How did that come about?
My boss, Mike Pinkney, said to Roger and me that he was done with real estate asked if we wanted to buy the business off him. He gave us a really good deal, and it would have been silly to say no. It was like the universe gave me a gift. We took over in 2009 and created our own independent business called Central Realty. About four years ago, the business joined forces with Ray White, and now we’re Ray White Mairangi Bay.
I’d spent about 12 years having a local presence in the area and building connections. When we got the international branding and systems of Ray White, it was like pouring gasoline onto a fire. Since we moved over, we’ve gone from nine people to 59, and now we’ve got two offices. I still sell, but what fills me with the most pride and purpose these days is being the leader of a great team. That’s where a lot of my energy goes.
Q: Do you feel like you’ve achieved what you wanted to in terms of earning what you’re worth?
I think so. In this industry, there’s no hiding. You’re always going to earn what you’re worth because there’s no way around it. If you put the hours in and do it efficiently and effectively, you’ll get good rewards. A friend of mine has a saying: “Real estate’s not a very good job to be mediocre at, but it’s a fantastic business to be really good at.”
You do have to work hard. People see Selling Sunset and think real estate is crazy outfits and dinner parties and going for coffees, but there’s a lot of grind. You have to make sacrifices.
Q: What have you sacrificed?
Mostly downtime. I work long hours. I don’t have time for some things I’d like to do, like playing golf. I’ve got two kids under five, so anytime I’m not working, I’m spending time with them. Sleep-ins are definitely something I have sacrificed!
But I still manage to travel and go to concerts and be involved with my local community. I love sponsoring clubs like the East Coast Bays Rugby Club. I’ve played rugby most of my life, but my joints ache too much to play now. I do like to exercise every day, though, so I go to the gym. I’m also a marriage celebrant. It’s about managing time. I don’t really have any dead time; I make sure almost every minute of the day is productive.
Q: Other than having confidence, why do you think you’ve done so well in real estate?
I’m hyper-focused and really committed to achieving goals, and I think real estate is a great job for people like that. Integrity is also a key part of being successful in this business. Not just being truthful, but if you say you are going to do something, actually doing it. A lot of people say they will follow things up, and they don’t. I will always do what I say I’m going to do.
Q: What do you love about real estate?
The fact that there’s no ceiling. Whenever I’ve achieved a goal, I’ve had the chance to start a new journey with a new goal and do something bigger and better. I love the chase of trying to achieve the goals I set myself. Being productive keeps a fidgety person like me fulfilled.
Q: Have you had any particularly memorable sales?
One that stands out is selling a house that belonged to one of New Zealand’s highest-paid sportspeople. I can’t say who. We smashed it out of the park – the auction was exceptional and went exactly how I wanted it to go – and the next day we got a personal phone call from this guy telling us what a great job we did. That was pretty cool.
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